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Balance Sheet Account Detail
 3 Months Ended
Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Account Detail BALANCE SHEET ACCOUNT DETAIL
The composition of selected financial statement captions that comprise the accompanying Condensed Consolidated Balance Sheets are summarized below:
(a) Cash and Cash Equivalents and Marketable Securities
As of March 31, 2020 and December 31, 2019, our “cash and cash equivalents” were held with major financial institutions. As of March 31, 2020 and December 31, 2019, our “marketable securities” include our equity holdings in CASI Pharmaceuticals, Inc. (“CASI”), mutual funds, government-related debt securities, corporate debt securities, and bank certificates of deposits (“bank CDs”).
We maintain cash balances with select financial institutions. The Federal Deposit Insurance Corporation (FDIC) and other third parties insure a fraction of these deposits. Accordingly, these cash deposits are not insured against the possibility of a substantial or complete loss of principal and are inherently subject to the credit risk of the corresponding financial institution.
Our investment policy requires that purchased investments may only be in highly-rated and liquid financial instruments and limits our holdings of any single issuer (excluding any debt or equity securities that may be received from our strategic partners in connection with an out-license arrangements, as discussed in Note 7).
 
The carrying amount of our equity securities, money market funds, and Bank CDs approximates their fair value (utilizing “Level 1” or “Level 2” inputs – see Note 2(x)) because of our ability to immediately convert these instruments into cash with minimal expected change in value. As of March 31, 2020, our held securities that remain in an unrealized loss position for less than one year were insignificant and are presented in the table below.
The following is a summary of our presented composition of “cash and cash equivalents” and “marketable securities”:
Historical or Amortized CostForeign Currency Translation
Unrealized
Gains		Unrealized
Losses
Fair
Value		Cash and Cash
Equivalents		Marketable Securities
March 31, 2020
Equity securities (see Note 7)
$6,310  $(2,789) $16,976  $—  $20,497  $—  $20,497  
Money market funds54,282  —  —  —  54,282  54,282  —  
Government-related debt securities*50,113  —  324  —  50,437  10,000  40,437  
Corporate debt securities*33,888  —  15  (159) 33,744  —  33,744  
Bank deposits6,070  —  —  —  $6,070  6,070  —  
Mutual funds4,941  —  —  (298) 4,643  —  4,643  
Bank CDs8,088  —  32  —  8,120  —  8,120  
Total cash and cash equivalents and marketable securities$163,692  $(2,789) $17,347  $(457) $177,793  $70,352  $107,441  
December 31, 2019
Equity securities (see Note 7)
$6,310  $(2,477) $27,214  $—  $31,047  $—  $31,047  
Money market funds54,199  —  —  —  54,199  54,199  —  
Government-related debt securities*62,617  —  19  (10) 62,626  —  62,626  
Corporate debt securities*58,235  —  38  (25) 58,248  5,000  53,248  
Bank deposits5,219  —  —  —  5,219  5,219  —  
Mutual funds4,375  —  783  —  5,158  —  5,158  
Bank CDs7,354  —  22  —  7,376  —  7,376  
Total cash and cash equivalents and marketable securities$198,309  $(2,477) $28,076  $(35) $223,873  $64,418  $159,455  
* Beginning in the second quarter of 2019, we purchased certain government-related and corporate debt securities. We have classified these as “available-for-sale” since we may redeem or sell these investments before their stated maturity to fund our operations. Under the requirements of ASC 320, Investments - Debt and Equity Securities: (i) we recorded these securities at initial “book value” and then amortize, through maturity, the determined “discount” or “premium” within “interest income” on the accompanying Condensed Consolidated Statements of Operations, and (ii) we recognize the “unrealized gains (loss)” of these securities (i.e., fair value versus amortized book value) as a separate component of “other comprehensive loss” on the accompanying Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2020.
(b) Property and Equipment, net of Accumulated Depreciation
“Property and equipment, net of accumulated depreciation” consists of the following: 
March 31, 2020December 31, 2019
Manufacturing equipment*$10,815  $10,355  
Computer hardware and software3,734  3,606  
Laboratory equipment36  36  
Leasehold improvements3,374  3,374  
Office furniture248  248  
Property and equipment, at cost18,207  17,619  
(Less): Accumulated depreciation(6,149) (6,012) 
Property and equipment, net of accumulated depreciation$12,058  $11,607  
* This account is comprised of our owned ROLONTIS production equipment on location at our contract manufacturer. This equipment has
alternative future use for the general production of various biologic agents. Accordingly, we have capitalized these purchases, rather than
recording it as “research and development” expense in full, despite its current designation for the manufacture of pre-FDA approved product. The majority of this manufacturing equipment was not in use and therefore not being depreciated as of March 31, 2020. Depreciation for installed and ready-for-use equipment is recorded to “research and development” expense prior to FDA approval and will be prospectively recorded to “cost of sales” upon FDA approval of ROLONTIS.
Depreciation expense (included within “total operating costs and expenses” in the accompanying Condensed Consolidated Statements of Operations) for the three months ended March 31, 2020 and 2019 was $0.1 million and $0.1 million, respectively.
(c) Prepaid Expenses and Other Assets
“Prepaid expenses and other assets” consists of the following:
March 31, 2020December 31, 2019
Vendor deposits$9,285  $8,740  
Prepaid insurance978  1,408  
Prepaid expenses and other assets$10,263  $10,148  
(d) Other Receivables
“Other receivables” consists of the following:
March 31, 2020December 31, 2019
Insurance receivable*$3,337  $4,015  
CASI other receivables2,135  2,393  
Other miscellaneous receivables 1,385  1,490  
Income tax receivable - current portion 1,306  973  
Interest receivable from marketable securities (see Note 3(a))
497  561  
Reimbursements due from development partners for incurred research and development expenses129  126  
Other receivables$8,789  $9,558  
* This insurance receivable balance represents our incurred legal fees and pending and completed settlements that are expected to be reimbursed by our insurance carriers.

(e) Other Assets
“Other assets” consists of the following: 
March 31, 2020December 31, 2019
Key employee life insurance – cash surrender value (associated with deferred compensation plan - see Note 6)
$3,073  $3,547  
Income tax receivable - non-current portion*—  334  
Research & development supplies and other114  119  
Other assets$3,187  $4,000  
* This value was moved to “other receivables” within “total current assets” as the “Coronavirus Aid, Relief and Economic Security (CARES) Act” now allows the immediate refund of alternative minimum tax payments. Previously this amount was expected to be collected over several years (see Note 9).
(f) Facility and Equipment Under Lease
“Facility and equipment under lease” consists of the following:
March 31, 2020December 31, 2019
Office and research facilities$3,077  $3,391  
Office equipment390  415  
Facility and equipment under lease$3,467  $3,806  
(g) Accounts Payable and Other Accrued Liabilities
“Accounts payable and other accrued liabilities” consists of the following:
March 31, 2020December 31, 2019
Trade accounts payable and other $26,937  $32,012  
Lease liability - current portion1,725  1,683  
Accrued commercial/Medicaid rebates2,870  2,925  
Accrued product royalty due to licensors—  66  
Allowance for product returns4,714  4,714  
Accrued data and distribution fees768  768  
Accrued GPO administrative fees6  6  
Accrued inventory management fees364  364  
Allowance for government chargebacks11,746  11,746  
Accounts payable and other accrued liabilities $49,130  $54,284  
Amounts presented within “accounts payable and other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets for our categories of GTN estimates (see Note 2(i)) were as follows:
Commercial/Medicaid Rebates and Government Chargebacks*Distribution, Data, Inventory and
GPO Administrative Fees		Product Return Allowances
Balance as of December 31, 2018$22,952  $3,932  $5,171  
Add: GTN accruals recorded for product sales 7,702  1,209  167  
(Less): Payments made and credits against GTN accruals (15,983) (4,003) (624) 
Balance as of December 31, 2019$14,671  $1,138  $4,714  
Add: GTN accruals recorded for product sales—  —  —  
(Less): Payments made and credits against GTN accruals (55) —  —  
Balance as of March 31, 2020$14,616  $1,138  $4,714  


(h) Other Long-Term Liabilities
        “Other long-term liabilities” consists of the following:
March 31, 2020December 31, 2019
Deferred compensation liability (Note 8(f))
$6,444  $8,597  
Lease liability - non-current portion (Note 8(a))
1,981  2,372  
Other tax liabilities101  101  
Other long-term liabilities$8,526  $11,070